Home Depot Sales Up 6%

ATLANTA — The Home Depot today reported sales of $23.2 billion for the third quarter of fiscal 2016, a 6.1% increase from the third quarter of fiscal 2015. Comparable store sales for the third quarter of fiscal 2016 were positive 5.5%, and comp sales for U.S. stores were positive 5.9%.

Net earnings for the third quarter of fiscal 2016 were $2.0 billion, or $1.60 per diluted share, compared with net earnings of $1.7 billion, or $1.35 per diluted share, in the same period of fiscal 2015. For the third quarter of fiscal 2016, diluted earnings per share increased 18.5 percent from the same period in the prior year.

“We experienced balanced sales growth in the quarter driven by an increase in both ticket and transactions, and our continued focus on productivity drove double-digit earnings-per-share growth,” said Craig Menear, chairman, CEO and president. “I would like to thank our associates and suppliers for their hard work and dedication to our customers throughout the quarter, and particularly in the face of Hurricane Matthew and the flooding in Louisiana.”

Source: Home Depot

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